Question

Dakota has $42,972 in a savings account. The interest rate is 15% per year and is not compounded. How much interest will she earn in 9 months?

Answer 1

Dakota will earn $2,047.10 in interest in 9 months.

Step-by-step explanation:

To calculate the interest Dakota will earn in 9 months, we need to use the formula:

Interest = Principal * Rate * Time

Given that the principal amount is $42,972 and the interest rate is 15% per year, we can calculate the interest earned in 9 months as follows:

Interest = $42,972 * 0.15 * (9/12) = $2,047.10

Therefore, Dakota will earn $2,047.10 in interest in 9 months.